Taxes

Utah Tax Ballot Measure: Education Funding | Tax Foundation Skip to content Home • Blog • Income Tax Earmarking and Grocery Taxes on the Ballot in Utah Utah’s taxes are unusually earmarked. The entirety of individual and corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many

State Sales Tax Reform Guide: Modernizing Sales Taxes Skip to content Table of Contents Key Findings The sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions. Many governments exempt goods like groceries; base broadening, such as including groceries, could keep

Harris Unrealized Capital Gains Tax Proposal: Details & Analysis Skip to content Home • Blog • Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains In her campaign for president, Vice President Kamala Harris has embraced all the taxA tax is a mandatory payment or charge collected by local, state, and national governments from

Short Form: How World War II Reshaped US Taxation Skip to content Home • Blog • How World War II Reshaped US Taxation This is part of our educational blog series, “The Short Form,” to simplify taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses

How Do Import Tariffs Affect Exports? | Tax Foundation Skip to content Home • Blog • How Do Import Tariffs Affect Exports? In his first term, President Donald Trump began a trade war by imposing nearly $80 billion worth of new import taxes, or tariffs, on a broad range of goods Americans buy from overseas

Meals Tax Rates in US Cities | Restaurant & Prepared Food Taxes Skip to content Home • Blog • Meals Taxes across the Nation Patterns of food consumption have changed considerably over the last 50 years. Economic progress, prosperity, and higher standards of living are generally associated with food declining as a share of consumption.

Raising Federal Revenues: 10 Less Harmful Options Skip to content Home • Blog • 10 Less Harmful Ways of Raising Federal Revenues The next president and Congress face two fiscal challenges in 2025 that may require finding new sources of revenues. First, the debt ceiling must be raised in early 2025, forcing decisions about how

New York Budget Gap & Taxes: Details & Analysis Skip to content Home • Blog • New York Budget Gap Narrows, but No Long-Term Solution in Sight New York cannot taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general

EU Tobacco & Cigarette Taxes | EU Excise duties on cigarettes Skip to content Cigarette smokers in the European Union pay far more in excise taxes than they do for the cigarettes themselves. The EU Tobacco TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses

Trump, Harris Corporate Tax Proposals: Election 2024 Skip to content Home • Blog • The Corporate Tax Rate Tug-of-War Depending on the outcome of the 2024 US election, the current corporate taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of

Pillar Two Unintended Consequences | Tax Foundation Europe Skip to content Home • Blog • Pillar Two’s Unintended Consequences The OECD’s Pillar Two aims to establish a global minimum taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government

Sales Tax Rates by City, 2024 | Tax Foundation Skip to content Table of Contents Introduction Sales taxes in the United States are levied not only by state governments but also by city, county, tribal, and special district governments. In many cases, these local sales taxes comprise a significant share of the overall rate paid